George Soros, the New York based billionaire investor has done it again, this time donating $18 million to his non-profit organization, the Open Society Foundations. According to information released on Wall Street Journal and reported on Fortune, the foundation is now among the largest non-profit organizations engaging in philanthropic activities in the world. The organization was founded by Mr. Soros in 1979, has branches in different corners of the world with its objective being to promote democracies and eliminating social injustices like discrimination.
For many years the foundation has been in existence, it has incurred accumulated expenditures of close to $14 billion. The 2017 budget is estimated to be $940 million. The grants targets seven regions globally with priority being given to governance, human rights, democracy and reforms in justice system. According to George Soros, the tremendous success he achieved in the financial markets enabled him to be independent than majority of individuals. It has encouraged him to face directly controversial issues which many cannot handle. In October 2017, the net worth of Mr. Soros was listed as $23 billion by Forbes in its list of the riches individuals in the U.S.
Programs Funded by Open Society
Open Society Foundations have funded both individuals and groups like civil societies in different countries in the world. The organization’s activities involve advocating for freedom of speech, equality, justice and governments to accountable. They have also sponsored thousands of students who could have otherwise not able to complete their studies and achieve their dreams. The donation by open society has mainly focused on individuals who are discriminated in the society. For instance, George Soros has been providing support to Roma people in Europe, and other groups like those who engage in prostitution, addicted drug users and others. Open Society Foundations is present in over 100 nations, where they advocate for human rights and democracy.
The Live of George Soros
George Soros was born in 1930 in Hungary. As he was growing up, he experienced discrimination and injustice during the World War II. During that period, more than 500,000 Hungarian Jews were murdered. His parents were forced to secure false identification documents in order to conceal their origins, and that was how they survived. After the war ended, Mr. Soros migrated to London in 1947, and secured part-time jobs to fund his education at London School of Economy. Nine years later, he left United Kingdom for the United States, where he joined other investors in financial world.
After a successful career in the investment industry, George started a hedge fund called Soros Fund Management in 1970. The hedge fund was very successful, and it made Soros to be recognized as one of the largest investors in the United States. He was then able to establish the Open Society Foundations using the fortune he made from his hedge fund. Through this foundation, George Soros aims to promote just societies, where all people are treated equally, and where accountability is key in every democracy.
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